North Carolina man indicted for allegedly conducting $13.7 million Ponzi scheme, using fake company 'Oodles Inc.'

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Much, if not all, of the purported business activities of Oodles did not appear to exist, court documents alleged.

"Brown used a substantial part of victim money on personal expenses unrelated to purported OODLES transactions, and to perpetuate the fraud by making payments to existing investors from funds contributed by new investors, commonly referred to as"Ponzi" payments," the Justice Department said in a press release.

"Upon closing of the sale of Class B Stock on January 23, 2018, [V2's] Family will receive the assigned multiple of 3.12 of the one million eight hundred thousand dollar value they have locked via this process," Demarco purportedly wrote. In one e-mail purportedly discussing financing for an intellectual property sale, Brown wrote to a"Rich V. Rivera" at the address RVshamuone@groupmail.com, which is an"apparent reference to the orca character made famous in numerous SeaWorld shows."

A screenshot of the fake $846,000,000 deposit allegedly made in a First Republic Bank account associated with Brown.The same unwitting forger is said to have been asked by Brown to fabricate letterhead of the law firm Bray & Kris, which was used to convince one of his victims that wire transfers related to business transactions were in the works. The motive provided, once more, was for his daughter's DECA competition.

The fake Paramount letter credited"free-lance appraisers under the guidance of the Vorys Firm." However, the earlier December letter, allegedly from this freelance appraiser, said that while his group"has worked in the past" with the Vorys, Sater, Seymour, and Pease firm, his group"now [works] independently."

 

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